Copart Announces Facility Expansions

    BENICIA, Calif.--Feb. 5, 2002--Copart, Inc. today announced that it has recently relocated and expanded its Detroit and Minneapolis facilities.
    During January, Copart's Minneapolis and Detroit salvage locations moved to larger facilities to accommodate recent market share gains. In Minneapolis, Copart moved from a 10-acre site to a new 28-acre site in the community of Ham Lake, 20 miles north of downtown Minneapolis. In Detroit, Copart moved from a 30-acre site to a new 77-acre site in the community of Woodhaven, 15 miles south of the Detroit airport. Copart's original Detroit location was both a 30-acre salvage auction and a 13-acre Motors Auction Group (MAG) public auction.
    "We moved the Detroit and Minneapolis facilities to accommodate our growth and meet the needs of our suppliers and buyers," said Willis J. Johnson, Copart's Chief Executive Officer. "We've made important gains in these markets thanks to our competitive products and services. In addition, at each of these sites we have developed office space and inspection sites for our suppliers. I'm also pleased that our MAG public auction in Detroit will have room to keep growing with their expanded 43-acre site."
    Copart, founded in 1982, provides vehicle suppliers, primarily insurance companies, with a full range of services to process and sell salvage vehicles through auctions, principally to licensed vehicle dismantlers, rebuilders, repair licensees and used vehicle dealers. Salvage vehicles are either damaged vehicles deemed a total loss for insurance or business purposes or are recovered stolen vehicles for which an insurance settlement with the vehicle owner has already been made. The Company operates 88 facilities in 39 states. It also provides services in other locations through its national network of independent salvage vehicle processors.

    NOTE: Certain statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in the forward-looking statements as a result of risk factors and/or factors affecting future results detailed in the Company's Securities and Exchange Commission reports, such as: the dependence on a limited number of suppliers; competitive factors; the inability to continue growing by the acquisition and development of new facilities; the inability to manage growth; limited experience in the public auction business; fluctuations in the availability and/or prices of vehicles; variations in vehicle accident rates; buyer attendance at auctions; delays or changes in state title processing; changes in state or federal laws affecting salvage vehicles; the timing and size of acquisitions; the announcement of new vehicle supply agreements by us or our competitors; the severity of weather and seasonal weather patterns; the amount and timing of operating costs and capital expenditures; government regulation; environmental problems; the loss of key management; and, difficulties in managing our trucking fleet.